예금보험제도가 은행의 위험추구와 최적재무구조 그리고 기업가치에 미치는 영향

In 1999, Monopoly Regulation and Fair Trade Act was amended to permit incorporation of holding companies, and in 2000, Financial Holding Company Act was enacted to promote holding companies in financial services industry. Different from regulation on financial holding companies in most developed countries, whose major purpose is to ensure sound management of financial companies, Korean regulation on holding companies including financial holding companies has focused on restraining concentration of economic power of Chaebol. Consequentially, there are many restrictions on ownership structure of holding company system and especially on mixing of finance and commerce. Admitting business advantages of holding company system in the current trend of globalization and financial convergence, however, regulatory authorities should delve for policies to promote establishment of financial holding companies. Specifically, it is recommended to redefine financial holding companies in different financial sectors and regulate them differently, reflecting distinctive features of each sector and also global standards so that minimum regulation is imposed for desirable outcomes.